Privva Announces Launch of Privva Ascent Maturity Model (PAMM) in Partnership with Shared Assessment
ARLINGTON, August 26, 2020 – Privva, the leading third-party risk management platform, and the Shared Assessments Program, authorities in risk management announced today the launch of the Privva Ascent Maturity Model (PAMM), an industry leading solution allowing organizations to evaluate the maturity level of their TPRM program.
The PAMM is based on the Shared Assessments’ Vendor Risk Management Maturity Model (VRMMM), a risk management standard used by thousands of organizations to evaluate their program against a comprehensive set of best practice and industry benchmarks. Privva brings a cloud-based format to this essential benchmarking, allowing organizations to set goals and meet the standards set by Shared Assessments.
Privva and Shared Assessments will offer the Privva Ascent Maturity Model along with the Shared Assessments Benchmark Study, Framework (typically only available to members), and best practices tools. Details are available at https://www.privva.com/vrmmmsignup.
Privva and Shared Assessments have also partnered on delivering a series of workshops guiding third party risk practitioners on the best ways to implement maturity and benchmark modeling into TPRM programs.
“Third-party risk management is a top of mind priority today especially when organizations are shifting to a distributed workforce, regulatory frameworks are tightening controls, and threat actors operate with alarming sophistication, understanding how your vendor risk program compares to evolving industry best practices has never been more important,” said Ishan Girdhar, CEO of Privva. “The launch of Privva Ascent is aimed to help organizations get educated on best practices and provide insights to build a mature program.
Shared Assessments is a global member-driven organization dedicated to developing the best practices, resources and tools to drive third party risk assurance across the full lifecycle of the relationship, from due diligence and vendor selection to continuous monitoring and termination.
“We are happy to partner with Privva on this exciting initiative. Privva shares similar values as Shared Assessments in improving the overall maturity level of third-party risk management through thought leadership and education, said David Perez, Chief Executive Officer of Shared Assessments.
Privva also offers the 2020 Standardized Information Gathering (SIG) tool used to collect the information necessary to conduct an initial assessment of a service provider’s controls.
About the Shared Assessments Program
As the only organization that has uniquely positioned and developed standardized resources to bring efficiencies to the market for more than a decade, the Shared Assessments Program has become the trusted source in third party risk assurance. Shared Assessments offers opportunities for members to address global risk management challenges through committees, awareness groups, interest groups and special projects.
(505) 466-6434 (o)
Privva is an award-winning, cloud-based third-party risk assessment platform delivering value for a diverse customer base across industries including legal, financial services, technology, healthcare, education, and media. Privva’s flexible web platform streamlines the assessment process from authoring to automatic recurring delivery. Developed with a philosophy that risk is contextual, Privva delivers a tailored approach to assessing risk with an intuitive user interface driving a responsive user experience. Privva’s Third Party Security Assessment centralizes security questionnaires, risk ratings and scoring of responses for third parties that have access to enterprise networks or sensitive data. Privva’s workflow and templates reduce third-party assessment time by up to 75% and annual recertification can be automated. For more information, visit www.privva.com or watch our Privva Vendor Risk Management in 90 Seconds video.